New market study, "Lithuania Pharmaceuticals & Healthcare Report Q2 2013", has been published

From: Fast Market Research, Inc.
Published: Mon May 20 2013


We expect the Lithuanian pharmaceutical market to continue to develop steadily over the coming years, on account of demographic and epidemiological factors. However, its small population and downward pressures on prices will continue to hamper the overall potential earnings in the country for pharmaceutical companies. Nevertheless, niche areas, such as biopharmaceuticals, will remain of interest to foreign majors, also from the point of view of exports.

Headline Expenditure Projections

* Pharmaceuticals: LTL1.74bn (US$647mn) in 2012 to LTL1.85bn (US$720mn) in 2013; +6.7% in local currency terms and +11.3% in US dollar terms. Local currency forecast slightly up from Q113 on account of new historical import data.
* Healthcare: LTL7.81bn (US$2.91bn) in 2012 to LTL7.29bn (US$3.26bn) in 2013; +4.7% in local currency terms and +12.0% in US dollar terms. Historical data revised upward, on account of higher pharmaceutical spending and economic recovery, although local currency forecast largely in line with Q213.

Full Report Details at
- http://www.fastmr.com/prod/596852_lithuania_pharmaceuticals_healthcare_report_q2.aspx?afid=303

Risk/Reward Rating: Lithuania's Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI's proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Lithuania has an RRR score of 46.4 out of 100, ranking it only the 15th most attractive pharmaceutical market in the Emerging Europe region, which covers 20 countries.

Key Trends and Developments

* In November 2012, German Medigene AG and pan-European group Nordic Pharma entered into an exclusive agreement for the supply and marketing of Veregen (sinecatechins 15 % ointment; formerly known as Polyphenon E) for the treatment of genital warts in the Czech Republic, Slovakia, Poland, Hungary, the Baltic countries, Georgia and the Commonwealth of Independent States (CIS). Medigene will benefit from milestone payments and double-digit royalties on sales of Veregen in these countries, as well as certain payments related to the manufacture and supply of the finished product. After conclusion of this agreement, marketing partnerships for Veregen now exist for all 17 countries included in the second wave of the European approval procedure, as well as for numerous other markets, including the US.

BMI Economic View: We continue to see a gradual slowdown in economic growth to 1.8% in 2013 from preliminary data showing the Lithuanian economy expanded by 3.6% in 2012. Although manufacturing output and construction activity could continue to recover this year, a weak external environment will place a cap on economic growth in the near future.

About Fast Market Research

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For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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